I am delighted to be here with you today to share and to celebrate in what hard work is able to achieve.
While I am advised that Tony’s Workshop and Cabinet Suppliers has been around for a number of years, the past two (2) years is truly an example of what young Bahamian entrepreneurs are able to achieve given the opportunity in any field whatsoever.
The name Charzon is Herbrew; translation is prophetic vision. The Biblical imperative states that where there is no vision the people perish. Mr. Mark Joseph has indeed been specially blessed with his vision for this beautiful forty- home gated community in this historic village of Adelaide.
Cognizant of the need for increased housing in New Providence, it is most encouraging to see more and more Bahamian companies entering the Business of providing affordable housing, particularly for the young people of our communities.
Enterprises of this nature are always encouraging to see as it is a confirmation of the continued bouyancy of the construction industry even though there has been general slow down of the local economy, following the 2001 event in the United States.
By way of information, it should be noted that a close inspection of statistics obtained from the Buildings Control Division of my ministry has revealed that contrary to beliefs that the entire Bahamian economy has slowed, the construction industry in New Providence has experienced a 20% increase during the first quarter of this year over the same period 2002. Building Permit Applications submitted for the first quarter in 2002 totaled 670 while the total number submitted this year was 844. Of this amount some 558 were approved in comparison to 431 for the same period in 2002. The total value of these request in 2003 totaled $90.8 million as opposed to $85.8 million in 2002.
Based on the investment policies that are presently being put in place by my government, I am confident that these trends will continue over the next five (5) years.
It is also interesting to note that the statistics I have just shared with you in respect to mainly residential developments and not the large commercial developments like Kerzner International, which impacted our building statistics in 1998 – 99 or the Emerald Bay Project which will come on stream later this year in Exuma.
Based on the current statistics, it is estimated that the local construction industry will be responsible for injecting some $1.03 million in Building Permit Fees into the Treasury as Government Revenue over the remaining three quarters of 2003. This compares to $752,926.00, which was collected during the year 2002.
Ladies and Gentlemen, you have my assurance that this government, of which I am a part, will continue to creat the atmosphere that would allow you to achieve these milestones.
Mr. Joseph, I must also congratulate you for your commitment to providing employment throughout the community as I am advised that your operation at times employ as many as fifty (50) persons, which is quite commendable.
Again in closing, I wish to express my gratitude for having been invited to share in this occasion with you, I wish you continued success as you continue to provide a critical service in this community and may God continue to bless you.
